$40mln obtained from electric power export in 6 months: EEP

Addis Ababa, February 5, 2023 (FBC) – The Ethiopian Electric Power (EEP) confirmed that it has obtained 39.8 million USD from electric power export to Djibouti and Sudan in the first half of the current fiscal year.

Accoding to EEP, the income obtained in the past 6 months from electric power export covers 89 percent of the initial target for the aforementioned period.

EEP’S Communication Director, Moges Mekonnen, stated that EEP was able to collect 21.4 million USD from power export to Djibouti, surpassing its target of 19.9 million USD in the first half of the 2022/23 fiscal year.

Whereas, the Official said that EEP was targeting to earn 24.5 million US dollars from the electric power export to Sudan in that period, but only 18.3 million USD was obtained.

He recalled that the electric power sale to Kenya has started recently, but it will continue on a trial period for some time. However, the total figure of income from power export is expected to increase once the regular electric power sale to Kenya commences after completing its experimetal period.

On the other hand, Moges said that 54.5 million Birr income was obtained by renting optical fiber to Ethio Telecom, Safaricom Ethiopia and WebSprix IT Solutions.

The official revealed that EEP has plans to sell electric power worth 9.3 billion birr to Ethiopian Electric Utility, high power user firms, and Ethio-Djibouti Railway Corporation.

He stated that the project is worth 8.3 billion birr, adding that 89 percent of the plan has been accomplished.